3min chapter

Coin Stories with Natalie Brunell cover image

Sam Callahan: What You Need to Know About GBTC and the Crypto Contagion

Coin Stories with Natalie Brunell

CHAPTER

BlockFi

When the premium was like 15, 20% on this GBTC arbitrage trade, um, it turned around and offer retail investors, you know, I think up to like 9% on certain stablecoins. And so basically their whole business model was based on this Arb trade. They would get user funds into these interest bearing accounts. Then they would collect 15% they would give the six to eight percent to their clients in their investing accounts. The last time I got an email was for their Bitcoin around 2%. So huge drop in their products and that's attracted people. Um, and so how many companies were doing this?

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode